800.515/8–2245: Telegram

The Secretary of State to the Ambassador in the United Kingdom (Winant)

7147. For Taylor8 from Treasury. Urtel 6615 June 30.9 Dept and Treasury bothered by apparent relaxation Brit controls over Swiss accounts and feel such action may be premature at this time. It is our feeling that in view of defects Swiss controls and general reluctance of Swiss to cooperate fully on Safehaven both we and Brit should hesitate before relaxing our controls over Swiss accounts.

Discuss with Brit desirability of maintaining existing controls over Swiss assets, at least until some indication is recd of Swiss compliance on Safehaven program. You should point out to Brit steps we are taking to hold up on certification procedure, and since they are committed with us to obtain fullest Safehaven results from Swiss, [Page 900] they should likewise be exceedingly reluctant to remove restrictions from Swiss assets. You might add we have found Swiss extremely sensitive to our suggestions if they feel their assets in this country are in any way prejudiced, and probably Allied control of Swiss assets is the most potent weapon we have with which to obtain Swiss compliance on Safehaven.

Report results of discussions. [Treasury.]

  1. Presumably William H. Taylor, Assistant Director, Division of Monetary Research, Treasury Department, assigned to London as U.S. Treasury Representative.
  2. Not printed.